PEARLS_The basic principles of Accounting

Furniture, Fixtures and Fittings

• Debit

• Credit

Match the following

• Long-term Liabilities

• Bank Loan

• Current Assets

• Motor Vehicles

• Current Liabilities

• Inventories

• Non-Current Assets

• Trade Payables

• Owner's Equity

• Capital

Match the following

• Expense

• Carriage Outwards

• Cost of Sales

• Electricity

• Revenue

• Discount Received

• Expense

• Carriage Inwards

• Expense

• Discount Allowed

Match the following

• Assets

• Rent and Rates

• Owner's Equity

• Premises (Building)

• Expenses

• Trade Receivables

• Revenue

• Commission Received

• Assets

• Net Profit

Revenue (Sales)

• Debit

• Credit

Opening Inventory

• Debit

• Credit

• In the additional information of Trial Balance

Closing Inventory

• Debit

• Credit

• In the additional information of Trial Balance

Purchases

• Debit

• Credit

Sales Return (Return Inwards)

• Debit

• Credit

Purchases Return (Return Outwards)

• Debit

• Credit